Zeekr, the Chinese electric vehicle brand, is set to make its debut in the Middle East as it enters the Israeli market in the fourth quarter of this year. The company has partnered with Union Group, an Israeli distributor, to establish a sales network for its vehicles in the country. Zeekr will be offering its 001 sedan and X sport utility vehicle, targeting the premium EV market and competing with models such as Tesla's Model Y and Mercedes-Benz's EQA.
While pricing details for the Israeli market have not been revealed yet, the presale price for the 001 in Europe is €59,490 ($65,230), while the X is priced at €44,990. Zeekr is also considering other markets in the Middle East for its future expansion plans.
The move comes as Chinese EV manufacturers are increasingly looking towards the Middle East, attracted by the region's growing interest in clean energy and sustainability. Recently, the Abu Dhabi government announced a 7% stake in Nio Inc., a Chinese EV maker, while Saudi Arabia signed a multi-billion dollar deal with Shanghai-based Human Horizons for EV development.
Zeekr is relatively new in the EV market, having been founded in 2021. However, it sold over 70,000 EVs in China last year, primarily led by its popular 001 model. Since then, the company has expanded its lineup to include the X SUV and 009 minivan.
In terms of global expansion, Zeekr aims to become one of the top three premium EV brands in Europe by the end of the decade, according to Spiros Fotinos, Zeekr's European head. The automaker is also said to have confidentially filed for a possible listing in the US and has secured $750 million in Series A funding earlier this year.
With its entry into the Israeli market and potential expansion into other Middle Eastern countries, Zeekr is further solidifying its position as a key player in the global EV industry.